, big spending cuts. but, the white house knew that a lot of republicans including speaker john boehner thought it would be irresponsible to not -- raise the debt ceiling and go past the limited and on the other hand, the white house is insisting on a long term deal to get it passed the election, and, republicans know that they cannot reject a deal too, voy default now, just so they can get it passed the election and if there is an actual deal that is -- for 6 months the white house will have to accept it. so, both sides have these weakness in their bargaining positions. >> jamie: byron york of the washington examiner, i know you wrote a great piece on this yesterday and we'll follow your commentary how things are going in washington. thanks for weighing in, today. >> thank you, jamie. >> eric: right now it is ten at night in hong kong and 11:00 at night in tokyo and, in hours when the traders wake up and go to work, what will happen? all eyes are anticipating what could happen when trading beginnings in